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  "presentationDate": "2024-02-01 00:00:00",
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  "notes": "Includes standard GAAP reconciliation disclaimer and currency assumption.",
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      "text": "We are not able at this time to provide GAAP targets for net income or net income margin or to reconcile Adjusted EBITDA margin to those amounts because of the unreasonable effort of estimating certain items that are excluded from non-GAAP Adjusted EBITDA, including, for example, stock-based compensation expense, foreign exchange loss (gain), and acquisition-related and other non-recurring expenses, the effect of which may be significant. Please note that our guidance assumes currency exchange rates remain unchanged at current levels.",
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      "text": "We expect revenue growth to outpace GMS growth; full year take-rate in line or ahead of the first quarter.",
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      "text": "We currently expect the first quarter to be our low point in year-over-year growth in GMS and revenue as we begin to see the expected benefits of our Etsy marketplace product and marketing investments kicking in starting in the second quarter.",
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      "text": "2024 Consolidated Outlook as of Feb 21, 2024",
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